Boustead Holdings surged to a new 52-week high with a long white candle two days ago, which likely indicates the return of buying momentum. The stock’s move above the RM0.82 resistance (April’s high) coupled with all its rising EMAs, indicate that the near-term bullish trend may persist. A bullish bias may emerge above the RM0.82 level, with a stop-loss set at RM0.76, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM0.90, followed by RM0.92.

Entry : RM0.82–0.84

Target : RM0.90, RM0.92

Exit : RM0.76

Source: AmInvest Research - 10 Jun 2022